Abu Dhabi initiative
Birmingham council leader Mike Whitby has signed a five-year memorandum of understanding with Abu Dhabi in a bid to attract some of the world’s “wealthiest and most ambitious” investors to the city. The Abu Dhabi government is to set up meetings with investors in return for advice on establishing a local government structure.
Menswear group fails
Speciality Retail Group, which operates 65 menswear stores under the Suits You brand, has gone into administration. Zolfo Cooper, the administrator, said it would support successful shops and wind down loss-making stores. Eight months ago, creditors saved the group by backing a company voluntary arrangement.
Agents’ partners join rivals
Both Cushman & Wakefield and Allsop are losing West End partners to rival agents. C&W agency partners David Hume and Brian Allen are leaving for Colliers International and Savills respectively, while Allsop is losing investment partner Justin James and associate Tim Hugill to BNP Paribas Real Estate.
Coppice Side occupiers
Rokeby Developments and Peveril Securities unveiled the occupier line-up for their £15m 112,000 sq ft mixed-use redevelopment in Swadlincote, south Derbyshire, this week. The 3.6ha Coppice Side site will be home to a Curzon multiplex cinema, supermarkets Iceland and Aldi, and stores Argos, Peacocks and Home Bargains.
Bridgwater scheme approval
Henry Boot has gained consent for a mixed-use scheme in Bridgwater, Somerset, of up to 1.3m sq ft of employment space and 2,000 homes. Supermarket Morrisons will take an 800,000 sq ft distribution hub. The 110ha site next to the M5 is a key part of the Bridgwater Challenge initiative to revitalise the town’s economic fortunes.
